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Dec 4, 2012
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too many tax increases. now the republicans have sent over a deal and still no meeting of the minds. you guessed it, not enough tax increases. here we go again. the deal does offer up $600 billion in save frtion medicare reform and other spending cuts and it also suggests raising $800 billion in revenue through tax reform instead of increases, but it just will not budge on raising those taxes on the wealthiest 2% of americans. and that is why democrats aren't budging. >> we're glad to finally see republicans joining in the negotiating process instead of watching from the sidelines, but while their proposal may be serious, it's also a nonstarter. they know any agreement that raises taxes on the middle class to protect unnecessary giveaways to the top 2% is doomed from the start. it won't pass. democrats won't agree to it, president obama wouldn't sign such a bill, and the american people won't support it. >> so let's bring in dan lothian because he's at the white house where the president is just about now me
too many tax increases. now the republicans have sent over a deal and still no meeting of the minds. you guessed it, not enough tax increases. here we go again. the deal does offer up $600 billion in save frtion medicare reform and other spending cuts and it also suggests raising $800 billion in revenue through tax reform instead of increases, but it just will not budge on raising those taxes on the wealthiest 2% of americans. and that is why democrats aren't budging. >> we're glad to...
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how can you tax it? >> reporter: that's the huge piece that needs to be worked out by the washington state bureau of liquor that's going to run all of this just like they regulate liquor sales, they're going to regulate marijuana sales. they're going to license and tax the growing, the processing and retail sales for all marijuana all at 25% plus fees for every individual that goes into those various businesses. they project that in the first five years nearly $2 billion from this program alone. >> and then this is not the only state because during this federal election there were two states that ended up on positive end of legalizing recreational marijuana. the other one being colorado. why do we not see a party there today? >> reporter: because they haven't made it legal yet. the governor there has to act before january 5th and then they will make it at some point legal to possess pot there as well. and then they'll have to go through the same process of setting up the rules to figure this out. advocat
how can you tax it? >> reporter: that's the huge piece that needs to be worked out by the washington state bureau of liquor that's going to run all of this just like they regulate liquor sales, they're going to regulate marijuana sales. they're going to license and tax the growing, the processing and retail sales for all marijuana all at 25% plus fees for every individual that goes into those various businesses. they project that in the first five years nearly $2 billion from this program...
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Nov 30, 2012
11/12
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to the tax man. ouch. the missouri fellow, or woman, will pay $75 million to the tax man. i'm sure they'll be okay with that really. trust me. here's some perspective too as well. as we get set to dive over the fiscal cliff, january 1st and our tacks jump up, if these people had won just another month and a half later, guess what would have happened? their winnings would have been slashed by $8 million more, so there's the silver lining in the tax cloud. speaking of clouds, man, is it a mess on the west coast. it's just no let-up in the rain. karen mcginnis is here to talk about the pacific storm that are battering the region. the rain just keeps coming and coming. it's expected to dump four to eight inches on places that have already been deluged with six inches. yes. that spells flooding, doesn't it? >> it really does. this will be the big concern as we head towards the weekend. up and down the west coast from seattle to san diego, they're being impacted by fierce winds, heavy rain, and it looks li
to the tax man. ouch. the missouri fellow, or woman, will pay $75 million to the tax man. i'm sure they'll be okay with that really. trust me. here's some perspective too as well. as we get set to dive over the fiscal cliff, january 1st and our tacks jump up, if these people had won just another month and a half later, guess what would have happened? their winnings would have been slashed by $8 million more, so there's the silver lining in the tax cloud. speaking of clouds, man, is it a mess on...
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Dec 3, 2012
12/12
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so is it just about the taxes for the wealthy versus the spending cuts? one gop leader has another take. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> political calculation. that's south carolina's lindsey graham and joining me is white house correspondent brianna keilar. there are people talking about what that political calculation means and even that term itself is becoming political. so spell it out if you would please, brianna. >> reporter: there is a political calculation going on over here at the white house, and that's that the white house and congressional democrats feel that they have more of the leverage and they do. they feel like when you look at polls that show increasing taxes on the wealthy is popular, that if the country were to go over the fiscal cliff, they would be more effective in blaming it on republicans than vice versa. they feel like republicans know that. and they feel like they can kind of paint republicans in to this corner on income tax rates but as you know, as of rig
so is it just about the taxes for the wealthy versus the spending cuts? one gop leader has another take. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> political calculation. that's south carolina's lindsey graham and joining me is white house correspondent brianna keilar. there are people talking about what that political calculation means and even that term itself is becoming political. so spell it out if you would please,...
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Nov 29, 2012
11/12
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setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be
setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal...
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Nov 30, 2012
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see a tax hike. here's the thing. even the top 2%, even folks who make more than $250 on,000, they would still keep their tax cut on the first $250,000 of income. they would still be better off for them too for us to go ahead and get that done. families would have a sense of security going into the new year. companies like this one would know what to xwp in terms of planning for next year and the year after. that means people's jobs would be secure. the sooner congress gets this done, the sooner our economy will get a boost. it would then give us in washington more time to work together on that long-range plan to bring down deficits in a balanced way. tax reform, working on entitlements, and asking the wealthiest americans to pay a little bit more so we can keep investing in things like education and research that make us strong. those are the choices that we have. and understand, this was a central question in the election. maybe the central question in the election. you remember had. we talked abou
see a tax hike. here's the thing. even the top 2%, even folks who make more than $250 on,000, they would still keep their tax cut on the first $250,000 of income. they would still be better off for them too for us to go ahead and get that done. families would have a sense of security going into the new year. companies like this one would know what to xwp in terms of planning for next year and the year after. that means people's jobs would be secure. the sooner congress gets this done, the...
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Nov 29, 2012
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taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000. some say even a million. all of that's going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he'll do that but the president stands at 250. which is below even where i was but he won the election. >> do you think
taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with...
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Dec 5, 2012
12/12
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minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start there with dana bash here in a moment. because the fiscal cliff debate is starting to sound like, you know, a high stakes game of chicken. there is all kinds of tough talk. no action. right now democrats and republicans are refusing to compromise on this key sticking point, how to get more money from wealthy people. president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let'
minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start...
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Dec 2, 2012
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avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking for the whole entire time. >> in other words not quite a good place to be, but both sides agree that the government needs to raise more money. how much and how they do it are two of the major sticking points. >>> and protests and a constitutional crisis, what is next for egypt. we'll dig deeper into the struggle for power between conservative islamists and liberal secularists. and later, brad pitt talks about his future with angelina jolie. >>> and a dog reunited with his owner after s
avoiding it -- if they do nothing, everyone's taxes go up and automatic spending cuts will take effect. no imminent deal is in sight. >> if they are going to force higher rates on virtually all americans, because they're unwilling to let tax rates go up on 2% of americans, then that's a choice we're going to have to make. >> i would say we're nowhere. period. we're nowhere. we have put a serious offer on the table by putting revenues up there to try to get this question resolved....
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Dec 6, 2012
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by the end of the year everything will be regulated and taxed very heavily here. 25% tax. proponents say they will raise a half billion dollars. $500 million a year from the sale of marijuana and marijuana products in washington state once this gets going. >> while many there are celebrating, colorado isn't ready to spark up just yet. voters cast votes to legalize marijuana as well but it won't officially be legal for another month. jim spelman is in denver, colorado. what's the holdup? >> reporter: the governor has to cross ts and dot is to make this official. like in washington state, there's uncertainty about what the federal government is going to do before we can really have fully implemented legalized marijuana here. take a look. on election day colorado voted to legalize marijuana and by early january the governor will make it official. but don't expect the streets of denver to look like this. smoking pot in public will remain illegal but behind closed doors the times are a changing. >> adults 21 and over can possess small amounts of marijuana and grow small amounts
by the end of the year everything will be regulated and taxed very heavily here. 25% tax. proponents say they will raise a half billion dollars. $500 million a year from the sale of marijuana and marijuana products in washington state once this gets going. >> while many there are celebrating, colorado isn't ready to spark up just yet. voters cast votes to legalize marijuana as well but it won't officially be legal for another month. jim spelman is in denver, colorado. what's the holdup?...
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Nov 30, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, move over cheetos, the new snack for the vending machine, ckavycavier, and you probably guessed it will take a little more than 75 cents to get this treat. prices range from $12, okay, possibly reasonable, to $500, a little less so. >>> well, bankruptcy judge has officially given hostess the go ahead to pay out bonuses to its senior executive. the company is liquidating almost 20,000 people losing their jobs. the executives are getting bonuses. how does that -- i'm not good at math, but how does that work? >> it doesn't quite seem fair, does it? but that's exactly what one new york court has sort of ruled on and the bonuses range from about $7,500 to $130,000 and it's only
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, move over cheetos, the new snack for the vending machine, ckavycavier,...
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you combine, say, about $250 billion in spending and tax cuts. that will probably cut gdp with the usual multiplier efforts of two percentage points. that's enough to raisen employment by a couple of percentage points. it's serious business. >> ali, what do you think? >> yeah. well, look, i think peter is right. the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too m
you combine, say, about $250 billion in spending and tax cuts. that will probably cut gdp with the usual multiplier efforts of two percentage points. that's enough to raisen employment by a couple of percentage points. it's serious business. >> ali, what do you think? >> yeah. well, look, i think peter is right. the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are...
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Nov 29, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. side by side so you get the same coverage, often for less. that's one smart board. what else does it do, reverse gravity? [ laughs ] [ laughs ] [ whooshing ] tell me about it. why am i not going anywhere? you don't believe hard enough. a smarter way to shop around. now that's progressive. call or click today. [ grunting ] >> breaking news our boston here. two trolleys that have collided. we're just getting information and details now. six people are injured. 20 are being evacuated for potential injuries. this is video of the scene here. this in the area of park and tremont. my old stomping grounds. went to college in the boston yar. the transportation authority saying that this took
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. side by side so you get the same coverage, often for less. that's one smart board. what else...
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Dec 4, 2012
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of tax avoidance. but there's no question in times of austerity -- tomorrow we'll find out what taxes in the uk are going to go up -- that this sort of finagling of the finances is most definitely not on. >> i suppose you could call it creative bean counters behind all of that. you could if you wanted to be silly. britain has a bit of a big tax gap problem overall, right? >> it does. and the chancellor of the -- the finance minister has now warned that he won't meet his deficit targets for austerity will have to continue. we expect higher taxes on the rich tomorrow, cuts in public spending, and in this environment the multinationals like google, amazon, starbucks, are very firmly in the firing line. after all what better than to attack big corporate america. and they're being told, smell the coffee. i can play that game, too, michael. >> wake up and smell the coffee. always good to see you, mr. quest. always making it simple for us. richard quest in london. probably didn't pay for that coffee. >>> over
of tax avoidance. but there's no question in times of austerity -- tomorrow we'll find out what taxes in the uk are going to go up -- that this sort of finagling of the finances is most definitely not on. >> i suppose you could call it creative bean counters behind all of that. you could if you wanted to be silly. britain has a bit of a big tax gap problem overall, right? >> it does. and the chancellor of the -- the finance minister has now warned that he won't meet his deficit...
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Dec 5, 2012
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of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very question. he said, look, i'm here. i'm going to be here. i'm going to be waiting for the president to respond. certainly there is some concern, but as one republican told our deirdre washington a short while ago, look, it is what it is. it is the reality. the reality is there is a lot of waiting going on. on both sides, but particularly right now when it comes to republicans. one of the sort of subplots we've been talking about here, suzanne, you and i talk abouted it about it yesterday is the conservative backlash missed the republican party against the speaker for this counter
of course, the white house, the president wants to raise it on tax ritz. the republicans say no way. >> is there any concern among republicans because we know they're not all kind of lining in lock step on what to do here. this doesn't look good, the optics of it all, them leaving and going home. a lot of people look at this that and go really, you're not going to try, stick around, get more work done here? are they worried it can backfire? >> i actually asked the speaker that very...
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Dec 1, 2012
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also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes back into recession. it's almost as if they can't strike a deal before you get to the very end, which is understandable. the problem is when you play this game, you can make a terrible mistake, and you know, they're gambling with the whole country here right
also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of...
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Nov 29, 2012
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those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are farther along with a deal than we know. and that all of this stuff that you're hearing out in the public view is just posturing. what are you hearing, dan? >> reporter: well, you know, we certainly -- i think everyone hopes so, that they are closer to a teal. what you're hearing is some people are optimistic, including the president, saying he's optimistic this can get done, even before christmas. but then you have others stepping up saying both sides are far apart, and very pessimistic this can get done. as i stated, there's still some very strong view
those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are...